Insurers raise flood damage estimates

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Insurance companies operating in the Czech Republic have revised flood damage estimates upward. The two largest insurers alone estimate the damage their clients incurred during the disastrous floods in August at almost 20 billion Czech crowns.

Insurance companies operating in the Czech Republic have revised flood damage estimates upward. The two largest insurers alone estimate the damage their clients incurred during the disastrous floods in August at almost 20 billion Czech crowns. Last week, they had put damage at less than 15 billion. AT the end of August, the 17 members of the Czech Insurers' Association registered more than 130,000 claims. Insurers expect that the flooding will cause a rise in prices of property insurance. Overall, the damage caused by the floods across the Czech Republic is estimated at some 90 billion CZK.